[THE INVESTOR] South Korea’s exports of information and communications technology products decreased at the fastest pace in four months in September, the government said on Oct. 13.

ICT exports reached US$14.53 billion last month, down 8.5 percent from $15.88 billion a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy.

The September figure marked the fastest on-year decline since May this year when it sank 10 percent on-year, with its losing streak extending to 11 straight months starting in October last year.

The ministry attributed the sharp decline in ICT exports to the worldwide recall of Samsung Electronics’ Galaxy Note 7 smartphone over battery problems.

For the first nine months of the year, ICT exports shrank 8.8 percent on-year to $118.05 billion, showed the data.



Exports of ICT goods accounted for 35.6 percent of the country’s $40.86 billion in overall shipments abroad over the one-month period.

Imports of foreign ICT products retreated 5.7 percent on-year to $7.34 billion last month, with the country logging a trade surplus of $7.19 billion in the sector.

(theinvestor@heraldcorp.com)